OPEC and its allies will discuss their response to the Omicron variant of the coronavirus at their meeting this week, although their knowledge of the potential impact on oil markets remains limited. SourceContinue Reading
BP Plc plans to build a green hydrogen facility in northeast England that could start producing the gas by 2025, part of a massive project to help the oil major transition toward cleaner sources of energy. SourceContinue Reading
Oil rebounded from one of its biggest ever daily drops as traders assessed the risks to global demand from the Omicron variant of Covid-19 and the potential response by OPEC and its allies. SourceContinue Reading
The Biden administration on Friday issued a long-awaited blueprint for overhauling oil and gas development on federal lands that includes boosting royalty rates despite high gasoline prices that have spurred demands to accelerate domestic production. SourceContinue Reading
Energy prices in Europe are repeatedly breaking records even before winter really kicks in, and one of the most damaging cost crunches in history is about to get worse as the temperature starts to drop. SourceContinue Reading
Iran wants to pump more oil than it did before the Trump administration tightened sanctions, a top official said ahead of high-level nuclear talks whose outcome would directly impact the country’s energy-market ambitions. SourceContinue Reading
Enbridge Inc.’s proposal to keep its massive Mainline oil pipeline network full through long-term contracts was rejected by Canada’s top energy regulator in a win for some producers who want more flexibility to ship their crude. SourceContinue Reading
The oil producers’ group OPEC+ will likely take a cautious stance when deciding this coming week whether to go ahead with planned output increases after the emergence of a new coronavirus variant sent crude prices tumbling, according to Vitol Group. SourceContinue Reading
Americans will see prices at the pump fall “before long,” President Joe Biden said after tapping U.S. oil reserves to ease price pressures and risk a feud with OPEC. SourceContinue Reading
Oil crashed more than 10% in both London and New York as a new coronavirus strain sparked fears that renewed lockdowns will threaten the global recovery in demand. SourceContinue Reading
